Despite the recent political unrest and consequent change of government, the Cairo property market remains attractive for property investors seeking high returns, according to the latest Lang LaSalle (JLL) report.
Having assessed the fundamentals of the Cairo property market, JLL concluded that the Egyptian capital’s property investment prospects remain positive for the medium to long-term.
The JLL report even suggested that the Egypt property market could eventually emerge stronger with greater transparency, which could in turn attract more international investors and prospective holiday home buyers.
Ayman Sami, head of Egypt office, JLL Mena, said: “Despite the negative short term economic impact of the recent revolution, Egypt’s economy will continue to grow. In the short term, real estate activity in Cairo will remain depressed due to the on-going uncertainties dominating the post-revolution period.”
He added: “2011 could therefore represent something of a ‘lost year’ with decisions to lease or purchase real estate delayed until the ‘dust settles’ and greater certainty returns to the market after the elections later in the year.”
According to Sami, the Cairo market remains the ‘flag bearer’ of Egypt’s property industry and will lead the road to recovery when existing uncertainties eventually settle down.
To read our guide on buying in Egypt, click here.
Overseas Property News from A Place in the Sun